RENAISSANCERE HOLDINGS LTD
For the period ended Mar 31, 2025. Filed Apr 24, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed Apr 24, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
SUPPLEMENTAL GUARANTOR FINANCIAL INFORMATION
RenaissanceRe Finance, a 100% owned subsidiary of RenaissanceRe, is the issuer of certain 3.700% Senior Notes due 2025 and 3.450% Senior Notes due 2027, each of which are fully and unconditionally guaranteed by RenaissanceRe. The guarantees are senior unsecured obligations of RenaissanceRe and rank equally in right of payment with all other existing and future unsecured and unsubordinated indebtedness of RenaissanceRe, which may be outstanding from time to time. Each series of notes contain various covenants, including limitations on mergers and consolidations, and restrictions as to the disposition of, and the placing of liens on, stock of designated subsidiaries. For additional information related to the terms of our outstanding debt securities, see “Note 9. Debt and Credit Facilities” in our “Notes to the Consolidated Financial Statements” in our Form 10-K for the year ended December 31, 2024 and “Note 7. Debt and Credit Facilities” included herein. On April 1, 2025, RenaissanceRe Finance repaid in full at maturity the aggregate principal amount of $300.0 million, plus applicable accrued interest, of its 3.700% Senior Notes due 2025.
The following tables present supplemental summarized financial information for RenaissanceRe and RenaissanceRe Finance, collectively the “Obligor Group.” Intercompany transactions among the members of the Obligor Group have been eliminated. The financial information of non-obligor subsidiaries has been excluded from the summarized financial information. In addition, assets as detailed in the table below exclude investments in subsidiaries for the Obligor Group. Significant intercompany transactions and receivable/payable balances between the Obligor Group and non-obligor subsidiaries are presented separately in the summarized financial information:
Summarized Balance Sheets
| (in thousands) | March 31,2025 | December 31, 2024 |
|---|---|---|
| Assets | ||
| Receivables due from non-obligor subsidiaries | $2,130,991 | $2,216,081 |
| Other current assets | 909,580 | 435,661 |
| Total current assets | $3,040,571 | $2,651,742 |
| Goodwill and other intangibles | $98,197 | $98,662 |
| Loan receivable from non-obligor subsidiaries | 691,949 | 646,830 |
| Other noncurrent assets | 3,874 | 14,820 |
| Total noncurrent assets | $794,020 | $760,312 |
| Liabilities | ||
| Payables due to non-obligor subsidiaries | $28,151 | $17,804 |
| Other current liabilities | 93,214 | 118,442 |
| Total current liabilities | $121,365 | $136,246 |
| Loan payable to non-obligor subsidiaries | $601,080 | $205,255 |
| Other noncurrent liabilities | 2,332,954 | 1,839,502 |
| Total noncurrent liabilities | $2,934,034 | $2,044,757 |
Summarized Statement of Operations
| (in thousands) | Three months ended March 31, 2025 |
|---|---|
| Revenues | |
| Intercompany revenue with non-obligor subsidiaries | $42,917 |
| Other revenue | 6,961 |
| Total revenues | 49,878 |
| Expenses | |
| Intercompany expense with non-obligor subsidiaries | 13,251 |
| Other expense | 17,845 |
| Total expenses | 31,096 |
| Income tax benefit (expense) | (12,210) |
| Net income (loss) | 6,572 |
| Dividends on RenaissanceRe preference shares | (8,844) |
| Net income (loss) attributable to Obligor Group | $(2,272) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.